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02.11.201800:13 Forex Analysis & Reviews: Technical analysis for EUR/USD for November 2, 2018

Long-term review

EUR/USD bounced today above short-term resistance at 1.1380 and reached the next important resistance at 1.1420. Trend remains bearish as long as price is below 1.1620.

Exchange Rates 02.11.2018 analysis

Red dots -maximum strength resistance

Black dots - medium strength resistance

Light blue dots - medium strength support

If EUR/USD bulls manage to break above 1.1420-1.1430, then we should expect a bigger bounce towards 1.1570-1.1630. Support is at 1.1340. If broken we should expect price to move towards 1.1250-1.12.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Alexandros Yfantis,
Analytical expert
InstaForex Group © 2007-2021
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